BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: robingrayson who wrote (28218)	4/2/2001 11:09:41 AM
From: Karl Zetmeir	Read Replies (2) of 28369

For US investors ... this is probably the most encouraging thing I've read in a couple of years. Add on interest and penalties ... and this could work out yet! <snort> ****** NP says 1999 Bre-X class action decision reversed Bre-X Minerals Ltd BXM Shares issued 219,103,330 Mon 2 Apr 2001 In the News Also SNC-Lavalin Group Inc (SNC) Also Barrick Gold Corp (ABX) The National Post reports in its Monday, April 2, edition that Texas judge David Folsom ruled Friday, in a sharp reversal of an earlier 1999 decision, that a Bre-X Minerals shareholder class-action lawsuit will proceed against BMO Nesbitt Burns and Barrick Gold, as well as Kilborn Engineering Pacific and P.T. Kilborn Pakar Rekayasa -- two subsidiaries of SNC-Lavalin. The National Post's Sandra Rubin writes that the ruling means the firms will have to answer questions about who knew what, and when, about the notorious gold swindle. They are also potentially liable to United States shareholders for hundred of millions of dollars in damages. J.P. Morgan & Co. has also been included in the suit along with Bre-X's former officers and directors. The companies deny being complicit in the fraud. In the latest ruling, judge Folsom indicated there had been widespread recklessness in the face of clear warning signs. In his decision, he noted allegations that Nesbitt analyst, Egizio Bianchini, who had an extremely close relationship with Bre-X, "repeatedly vouched for the" company. "He did this in the face of signs that Bre-X was a fraud of unparalleled proportions."

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